Truist lowered the firm’s price target on Affirm (AFRM) to $71 from $85 and keeps a Buy rating on the shares. The firm is boosting its estimates after the company’s better than expected Q4 results but also notes that its price target cut reflects lower peer multiples and investor fears over BNPL competition, particularly from Klarna (KLAR) and PayPal (PYPL), the analyst tells investors in a research note.
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